Palladian invests in UK leasing company Global Vehicle Group

• Co-founders Andrew Hurst and Jon Lewis are reinvesting alongside Palladian
• H2 Equity Partners, GVG’s minority backer for four years, will exit on completion
• Fleet industry veteran Andrew Cope will join GVG’s board as non-executive chairman

Palladian Investment Partners has announced an investment in Global Vehicle Group, a UK B2B leasing broker.

Co-founders Andrew Hurst and Jon Lewis, along with GVG’s existing management team, are reinvesting alongside Palladian and will continue to lead the business through its next phase of growth. Current minority shareholder H2 Equity Partners will exit upon completion of the transaction, ending a four-year partnership as GVG’s first private equity backer.

Upon completion, Andrew Cope will join GVG’s board as non-executive chairman. Cope was a founding member of Zenith, which grew into the UK’s leading independent leasing and fleet management business, according to the company, and served as its chief executive officer, overseeing multiple management buyouts during a period of sustained growth.

“Andrew, Jon and the wider team have built something that is well ahead of its peers,” said Doug Oppenheim, co-managing partner at Palladian, in a statement. “We see a significant opportunity to go further by investing in GVG’s technology, broadening its product offering and helping the business capture a greater share of the SME van, car and fleet markets.”

GVG manages assets under management exceeding £2.5 billion ($3.2 billion; €2.9 billion) across van leasing, fleet management, electric car salary sacrifice and car leasing.

Arini Capital Management is providing financing facilities to support the investment. Palladian was advised by Stephens Europe, MDW Capital Advisory, King & Spalding, Addleshaw Goddard, Grant Thornton, Armstrong, BDO, Panamoure, Capin Partners and Corval Partners.

The transaction is subject to regulatory approval, and financial terms were not disclosed.

Editor’s note: This news brief was produced with the assistance of artificial intelligence.